NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,056,345 shares of the computer hardware maker’s stock after selling 138,660 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NVIDIA were worth $114,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. GSB Wealth Management LLC lifted its holdings in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC lifted its stake in shares of NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after buying an additional 3,206 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after buying an additional 1,265 shares in the last quarter. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA in the fourth quarter worth about $2,272,000. Finally, Pegasus Asset Management Inc. lifted its stake in shares of NVIDIA by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker’s stock worth $8,318,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director owned 1,576,709 shares of the company’s stock, valued at approximately $243,790,745.58. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock worth $584,414,209 in the last 90 days. 4.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NVDA shares. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Loop Capital lifted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $176.19.

NVIDIA Stock Up 1.3%

Shares of NASDAQ:NVDA opened at $159.28 on Monday. The company has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $160.98. The firm has a 50 day simple moving average of $136.38 and a 200-day simple moving average of $127.81.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.